Fed signals gradual rate hikes to 2020
The Fed projects two more rate hikes in 2018 and gradual increases through 2020 as unemployment stays low and inflation nears 2 percent. Powell testifies next week as the Fed aims for a policy path slightly above its neutral rate by 2019 and beyond.
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Stocks End Week With Gains Amid Mixed Bank Results
U S stocks closed higher as energy and defense firms rose while banks lagged on weak earnings. The S&P 500 edged up to 2,801.31, the Dow gained 0.4 percent to 25,019.41, and the Nasdaq touched a new late session high as oil prices rose but trading was cautious ahead of earnings.
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Papa John’s pulls founder from marketing after slur report
New York Papa John’s is removing founder John Schnatter from logos and ads amid reports he used a racial slur. The company says timing is still being worked out and no name change is planned. Schnatter remains on the board and is the largest shareholder.
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